UnionPay International Rapidly Expands QuickPass Business Overseas
- Payments , Retail Banking
- 09.03.2016 09:00 am
Based on analyses of Chinese tourists' overseas spending, UnionPay International is rapidly and accurately expanding QuickPass business overseas. Nearly 180,000 POS terminals in Hong Kong, Macao,Taiwan, South Korea, Australia, New Zealand, Singapore accept UnionPay chip cards with "QuickPass" signage and various mobile QuickPass-enabled products. The overseas transaction volume of UnionPay QuickPass grew 8 times in 2015, and is growing rapidly this year.
Currently, UnionPay is the only international card organization providing contactless mobile payment service for domestic cardholders. UnionPay QuickPass supports offline contactless payment by mobile phones and other mobile devices, as well as remote online payment. It encompasses mobile payment products including HCE and Apple Pay, and supports various terminals and operators. Consumers can pay with mobile phones conveniently and securely at POS terminals with "QuickPass" signage overseas.
Compared with other mobile payment modes, UnionPay Cloud QuickPass is safer. It provides multiple security measures including dynamic PINs and tokens. Real card numbers are not shown during payments and transaction information is well guarded by issuers and UnionPay.
The abundant application and high security of UnionPay QuickPass have attracted an increasing number of overseas merchants to offer the service.
Cai Jianbo, CEO of UnionPay International, said "UnionPay launched Mobile QuickPass together with commercial banks and major mobile phone manufacturers worldwide. It covers mobile phone brands including Huawei, ZTE and Apple, and supports multiple payment channels. UnionPay will take advantage of its network and technology to accelerate the launch of Mobile QuickPass overseas, and to deliver secure and convenient cross-border payment experience to cardholders. It is also important for UnionPay to expand Cloud QuickPass on a global scale".
UnionPay International has first provided Mobile QuickPass service in markets frequently visited by Chinese tourists.
Australia is the overseas market with the largest number of Quickpass terminals. 30% of brick and mortar stores accepting UnionPay cards accept QuickPass. UnionPay QuickPass is also the most widely used brand for contactless payment in Macao. 90% of merchants accepting contactless payment accept QuickPass. SOGO, 7-11, SaSa and Mannings in Hong Kong, Doota shopping center, GS25 and Watsons in South Korean, and many merchants in Taiwan all accept QuickPass.
Over two billion UnionPay chip cards have been issued accumulatively worldwide, and relative application is enriching. Over 7 million POS terminals in mainland China support contacless payment, and UnionPay is accelerating application improvement and cashier training.